SEC Says 1st Circ. Can Skip Kokesh Interpretation For Now

Law360 (May 14, 2019, 7:53 PM EDT) -- The U.S. Securities and Exchange Commission said Tuesday the First Circuit can uphold the dismissal of a disgorgement dispute because it was improperly filed and doesn't need to reach the question of whether the regulator can collect disgorgement when it is meant as a penalty.

Doing so would allow the court to sidestep an interpretation of the U.S. Supreme Court's 2017 ruling in Kokesh, which determined that since the SEC collects disgorgement in an effort to prevent future wrongdoing rather than to compensate victims, the practice should be subject to the five-year statute of limitations on civil penalties.

"The question before...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

Related

Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

Appellate - 1st Circuit

Nature of Suit

2899 Other Statutes

Date Filed

October 24, 2018

Law Firms

Companies

Government Agencies